Forex news for Asia trading Monday 27 July 2020
- Gold's (nearly) 2 year rally finally takes out $1920
- EUR/USD above fair value model - here's what'll cap the upside
- China June industrial profits up 11.5% y/y (prior +6.0%)
- PBOC sets USD/ CNY reference rate for today at 7.0029 (vs. yesterday at 6.9938)
- FX option expiries for Monday July 27 at the 10am NY cut
- Australian state of Victoria reports 532 new COVID-19 cases
- RBA's Kent says the short end of the yield curve has a close correlation with the AUD
- RBA's Kent speech - link to full text
- BOJ: Must watch impact of pandemic on the economy
- Japan Capex data for Q1, final: +0.1% y/y (preliminary was +4.3%)
- White House says agreement 'in principle' reached on the next coronavirus economic rescue bill
- Latest COVID-19 numbers out of Texas, case growth slowing, deaths rising
- Gold back above US $1,905 as the new week opens
- Germany says no to Trump's proposal to allow Russia back into the G7
- Tokyo metropolitan government reported 239 new cases of coronavirus infection on Sunday
- Tuesday is the TradeOn Summit. It's time to sign up.
- EU €750bn Recovery Fund Italy worried money will not come soon enough to avert an autumn liquidity squeeze
- Trade ideas thread Monday 27 July 2020
- UK new coronavirus rule announced on Saturday - travellers from Spain get 14 days quarantine
- German state premier says coronavirus second wave troubling for Germany
- Monday morning open levels - indicative forex prices - 27 July 2020
- Treasury Sec. Mnuchin: Phase 4 stimulus could be done piecemeal
- JPM says to sell USD/CHF ahead of the FX manipulation report
- Hanna upgraded to hurricane - approaching the coast of Texas
- Sell USD/JPY this week - MUFG
- US coronavirus case count is second-highest on record
Gold took out out its previous high of just over 1920 back in 2011 during the session here. Its been rising, with a minor setback in March 2020, since September 2018 and cracked a new high on a day that saw wider US dollar weakness pretty much across the board.
EUR took a look towards 1.1700 but has not managed to piece the round number, barrier option defence is the chatter to explain the top in place during the session here ahead of the figure. It does appear to be only a matter of time though. EUR was not the only gainer though, GBP, CAD, AUD and NZD are all higher against the dollar, even yen and CHF added points.
News and data flow was light. There were statements out of the White House earlier that agreement was edging closer for the next round of economic rescue stimulus. Otherwise news and data flow was relatively light, with little else of immediate impact to act as the catalyst for the USD move, it was a case of more of the same for the dollar.
As
I post gold is still rising, above $1925 $1926.... 1928
Other:
- EUR/USD high today is its highest since September. 2018
- USD/CHF low today is its lowest in 5 years
